MarketFriction

Varvee Global Ltd

NSE VGL · BSE 514274 · Other Textile Products
₹63.11 -1.47%
NSE close2026-10-01
52 week range43.70 - 84.85
Market cap₹335 Cr.
ASM long-term Price band 20% Delivery 80.4%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales24.8125.5524.0013.5315.485.947.50-0.5527.8312.1423.388.26
Expenses30.9734.7229.2624.4620.1628.5559.200.5613.9813.6229.2715.12
Operating Profit-6.16-9.17-5.26-10.93-4.68-22.61-51.70-1.1113.85-1.48-5.89-6.86
OPM %-24.83%-35.89%-21.92%-80.78%-30.23%-380.64%-689.33%49.77%-12.19%-25.19%-83.05%
Other Income2.393.370.5845.1034.2522.6337.946.826.4921.64-15.180.63
Interest11.747.696.765.333.812.491.211.43-0.00-0.00-0.000.01
Depreciation2.751.631.121.111.120.971.151.001.531.221.570.63
Profit before tax-18.26-15.12-12.5627.7324.64-3.44-16.123.2818.8118.94-22.64-6.87
Tax %-28.97%-56.35%-48.57%18.54%66.48%102.03%-44.98%-676.52%45.67%71.81%26.28%-4.51%
Net Profit-12.97-6.60-6.4622.588.27-6.94-8.8725.4810.215.35-28.59-6.56
EPS in Rs-2.77-1.41-1.384.811.76-1.48-1.894.951.981.04-5.55-1.27
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales84184482775256526542126185426372
Expenses7647727476695292854312891131225772
Operating Profit7772808236-20-10-28-29-805-0
OPM %9%9%10%11%6%-7%-2.5%-11%-34%-189%9%-0.5%
Other Income-1233-01225741302014
Interest3738434953514346371310
Depreciation313333343828252512455
Profit before tax8362-56-87-54-92-7333188
Tax %17%35%12%37%-24%-27%-24%-30%-39%43%32%
Net Profit7261-42-64-41-65-451912-20
EPS in Rs1.500.381.200.23-8.94-13.69-8.83-13.87-9.513.952.42-3.80
Dividend Payout %-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-23%-25%-38%152%
Compounded Profit Growth0%17%29%-209%
Stock Price CAGR6%41%75%-21%
Return on Equity-23%-73%-128%18%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital232323232323232323232326
Reserves23224024324825020814410338-61251
Borrowings370382355379434419433413397278943
Other Liabilities145178210268241193110897014474104
Total Liabilities771825831919949843711629528438204184
Fixed Assets372367375363389350274231202726843
CWIP215-0-0-0-011-0-01
Investments-0-0-000-0-0-0-0-0-010
Other Assets397457451556560492437397324366136129
Total Assets771825831919949843711629528438204184
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity4775110385165451340110275
Cash from Investing Activity-11-38-50-19-535947134618228
Cash from Financing Activity-36-33-63-193-70-42-63-62-156-196-43
Net Cash Flow-04-300-112-4-10013-10
Free Cash Flow39356622-106350595315120945
CFO/OP71%100%154%48%63%181%-223%-125%-141%-385%-34%110%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days85921041301401522871441744306493
Inventory Days13212711414618923428320423040534296
Days Payable749010915116716716010010923575457
Cash Conversion Cycle14312910912516121941024729560023-69
Working Capital Days-18-22-25116208-6-65-369-593-272
ROCE %6%8%6%8%8%-0%-7%-6%-11%-10%-37%17%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters65.80%65.80%65.80%65.80%60.81%60.81%38.77%30.56%65.64%65.64%65.64%65.64%
FIIs0.00%0.00%0.00%0.00%0.37%0.25%0.00%0.01%0.00%0.00%0.01%0.58%
DIIs2.10%2.10%2.10%2.10%0.00%0.00%0.07%1.30%1.30%1.30%1.30%1.30%
Public32.10%32.08%32.10%32.09%38.81%38.94%61.16%68.14%33.07%33.06%33.06%32.49%
No. of Shareholders10,01410,56611,43911,30310,43910,18110,20210,25210,3419,8988,2419,113

Fundamentals

Market Cap₹ 335 Cr.
Current Price₹ 64.7
Book Value₹ 15.0
ROCE17.3 %
ROE18.1 %
Dividend Yield0.00 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)152%
Compounded Profit Growth (TTM)-209%
Standalone figures.
Valuation
Market capRs 325 Cr
Enterprise valueRs 324 Cr
Price to book4.22x
Price to sales4.54x
EV / EBITDA22.19x
EV / EBIT33.55x
EV / sales4.53x
Price to cash flow64.52x
Earnings yield-6.02%
P/E, 3-year average14.12x
P/B, 3-year average3.11x
P/E, 5-year average14.12x
P/B, 5-year average1.98x
Profitability
Operating margin (excl. other income)8.60%
Operating margin (incl. other income)40.03%
EBITDA margin20.42%
Pre-tax margin11.51%
Net profit margin-27.36%
Net margin, latest quarter-79.42%
ROE22.08%
ROCE18.90%
ROA6.42%
ROE, 3-year average-7.14%
ROCE, 3-year average10.25%
ROA, 3-year average0.98%
ROE, 5-year average-23.78%
ROCE, 5-year average3.89%
ROA, 5-year average-2.90%
ROIC (approx.)8.58%
Tax rate32.34%
Other income / net worth25.63%
Growth
Sales growth (latest year)47.94%
Profit growth (latest year)-32.85%
Sales CAGR, 3 years-37.79%
Sales CAGR, 5 years-25.02%
Sales growth QoQ-64.67%
Sales growth YoY (latest quarter)-1601.82%
Profit growth YoY (latest quarter)-125.75%
Per share
EPS (TTM)Rs -3.80
EPS (latest year)Rs 2.42
EPS (latest quarter)Rs -1.27
EPS, 3-year averageRs -2.90
EPS, 5-year averageRs -10.82
Book value per shareRs 14.95
Sales per shareRs 13.90
Cash flow per shareRs 0.98
Free cash flow per shareRs 8.73
Efficiency
Asset turnover0.34x
Fixed asset turnover1.46x
Inventory turnover2.28x
Inventory days160 days
Debtor days93 days
Debtors turnover3.94x
Creditor days457 days
Cash conversion cycle-69 days
Working capital days-272 days
Leverage
Total debtRs 3 Cr
Cash and bankRs 4 Cr
Net debtRs -1 Cr
Debt to equity0.04x
Net debt / EBITDA-0.05x
Interest coverage6.76x
Owners' fund to total sources41.95%
Debt to assets1.57%
Cash flow
Cash from Operating Activity (latest year)Rs 5 Cr
Cash from Investing Activity (latest year)Rs 28 Cr
Cash from Financing Activity (latest year)Rs -43 Cr
Net Cash Flow (latest year)Rs -10 Cr
Free cash flow (latest year)Rs 45 Cr
FCFE (approx.: FCF + change in debt)Rs -46 Cr
Sales to cash flow12.46x
Statement figures
Net sales (TTM)Rs 72 Cr
Net sales (latest year)Rs 63 Cr
Sales (latest quarter)Rs 8 Cr
Operating profit excl. other income (latest year)Rs 5 Cr
Operating profit (latest quarter)Rs -7 Cr
Other income (TTM)Rs 14 Cr
EBITDA (TTM)Rs 15 Cr
PBDT (TTM)Rs 13 Cr
Profit before tax (TTM)Rs 8 Cr
Tax (latest year)Rs 6 Cr
Net profit (TTM)Rs -20 Cr
Net profit (latest year)Rs 12 Cr
Net profit (latest quarter)Rs -7 Cr
Depreciation (TTM)Rs 5 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 40 Cr
Total expenditure (latest year)Rs 57 Cr
Total income (latest year)Rs 83 Cr
Share capitalRs 26 Cr
ReservesRs 51 Cr
Shareholders' fundsRs 77 Cr
Total assetsRs 184 Cr
Net blockRs 43 Cr
Capital work in progressRs 1 Cr
InvestmentsRs 10 Cr
ReceivablesRs 16 Cr
InventoryRs 18 Cr
Other liabilitiesRs 104 Cr
Shares outstanding (crore)5.15
Ownership
Promoter holding65.64% (+35.08 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 4.22 is at the 77th percentile (median 0.44).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodVGLNifty 50Difference
1 week-5.1%-2.8% -2.3 pts
1 month+10.7%-6.8% +17.5 pts
3 months-2.7%-7.6% +4.9 pts
6 months+34.3%+0.4% +33.9 pts
1 year-24.9%-9.9% -15.0 pts
2 years+160.4%-13.6% +173.9 pts
3 years+427.2%+14.2% +413.1 pts
5 years+453.6%+27.9% +425.7 pts

Red flags

F-score 5 of 8
explainReceivables outrunning sales Receivables grew 114% vs sales +48% in 2026
lookInventory outrunning sales Inventory grew 120% vs sales +48% in 2026
lookProfit leans on other income Other income was 107% of pre-tax profit in 2026
lookOn NSE surveillance On NSE surveillance: ASM long-term
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹8 Cr +1601.8% vs Jun 2025. Net loss ₹7 Cr.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-03-02Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share0.5000
2023-09-22Annual General Meeting
2019-09-24 Annual General Meeting
2018-09-19 Annual General Meeting
2017-08-30 Annual General Meeting
2016-09-19 Annual General Meeting
2015-09-16 Annual General Meeting
2014-09-18Annual General Meeting
2013-09-19Annual General Meeting
2012-08-30Annual General Meeting And Interim Dividend Re.0.50 Per Share
2011-09-19Annual General Meeting
2010-09-23Final Dividend-Re.0.50 Per Share
2010-08-25Interim Dividend-Re.0.50 Per Share
2009-10-30Int Div-Re.0.50 Per Share
2009-09-17Annual General Meeting
2008-09-18Annual General Meeting
2007-09-20Agm/Final Dividend-5%
DateTypeWhat it says
2026-10-02Shareholder meetingVoting results.
2026-09-30Shareholder meetingProceedings of Annual General Meeting held on September 30, 2026
2026-09-28Shareholder meetingNotice of Postal Ballot
2026-09-25Amendment to AOA/MOAThe Amendment to AOA/MOA of the company.
2026-09-25Credit Rating- OthersCredit Rating- Others
2026-09-25Stock splitThe Board of Directors at its meeting held on September 25, 2026, has considered and approved subdivision of 1 equity shares of Rs. 5 each into 1 equi...
2026-09-21Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-21ResignationResignation of Director/KMP/SMP
2026-09-21ResignationResignation of Director/KMP/SMP
2026-09-21Director changeChange in Director(s) of the company.
2026-09-21Board meeting outcomeOutcome of Board Meeting held on September 21, 2026.
2026-09-15Price movementSignificant movement in price has been observed in VARVEE GLOBAL LIMITED. The Exchange, in order to ensure that investors have latest relevant informa...
2026-09-15Price movementSignificant movement in price has been observed in VARVEE GLOBAL LIMITED. The Exchange, in order to ensure that investors have latest relevant informa...
2026-09-15Reply to Clarification- FinaThe Exchange had sought clarification from VARVEE GLOBAL LIMITED for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing ...
2026-09-03Clarification - Financial ReThe Exchange has sought clarification from VARVEE GLOBAL LIMITED for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing ...
2026-09-03UpdatesIntimation of Cut-Off Date for E-voting.
2026-09-03Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-02Board meeting outcomeOutcome of Board Meeting held on September 02, 2026.
2026-08-12Change in Company Secretary/Change in Company Secretary/Compliance Officer i.e. CS Pooja Hemang Khakhi has been appointed as Senior Management Personnel designated as KMP and Nod...
2026-08-12AppointmentAppointment of CS Pooja Hemang Khakhi as Company Secretary & Compliance Officer of the company w.e.f. August 12, 2026.
2026-08-12Integrated Filing- FinancialSubmission of unaudited financial Results for quarter ended on 30th June, 2026 along with the limited review report
2026-08-12Board meeting outcomeVARVEE GLOBAL LIMITED has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-29ResignationResignation of Director/KMP/SMP
2026-07-29ResignationResignation of Director/KMP/SMP
2026-07-29ResignationResignation of Director/KMP/SMP
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Long Term Additional Surveillance Measure (Long Term ASM): stage 1
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03